Systemax Posts Higher Sales, Earnings In Qtr.

By Steve Smith -- TWICE, 11/1/2011

Port Washington, N.Y. - Systemax, whose primary retail brands are TigerDirect, CompUSA and Circuit City, reported higher net income and sales corporately, but lower consumer sales during the third quarter, ended Sept. 30.

Sales were $901.2 million in the quarter, up from the prior year's $862.7 million. Net income was $10.6 million, up from the prior year's $8.6 million

While its B to B sales grew, consumer sales fell to $393 million in the quarter from the prior year's $427.5 million.

Richard Leeds, chairman/CEO, said in a statement, "Our retail stores delivered another solid quarterly performance. However, our consumer related sales remain challenging, especially on the web."

However he added, "Our business is diversified by market, channel and geography, and we remain well positioned as we enter the holiday sales period."

By product category, computer sales were $280.7 million for the quarter, up from the prior year's $221.9 million. Computer accessories and software were also up, by almost $10 million, to $247.5 million. But CE product sales were down $22 million in the quarter to $167 million compared with the prior year.